Ready Capital Co. (NYSE:RC) Receives $8.61 Average PT from Brokerages

Shares of Ready Capital Co. (NYSE:RC) have earned an average rating of “Hold” from the eight research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $8.61.

Several equities research analysts have commented on RC shares. B. Riley restated a “neutral” rating and issued a $10.00 price target (down previously from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. UBS Group dropped their price target on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Friday, November 15th. JMP Securities dropped their price target on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a research note on Thursday, December 12th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a research note on Tuesday, January 14th.

Ready Capital Price Performance

RC opened at $6.89 on Friday. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -9.84 and a beta of 1.43. Ready Capital has a fifty-two week low of $6.39 and a fifty-two week high of $9.53. The company’s 50-day moving average price is $6.89 and its 200 day moving average price is $7.37. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54.

Ready Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 14.52%. Ready Capital’s payout ratio is -142.86%.

Institutional Investors Weigh In On Ready Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RC. Sterling Capital Management LLC grew its position in Ready Capital by 822.8% in the fourth quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 4,616 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in Ready Capital by 3,075.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 6,150 shares during the last quarter. Avion Wealth acquired a new position in Ready Capital in the fourth quarter worth approximately $47,000. KBC Group NV grew its position in Ready Capital by 64.1% in the third quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 3,248 shares during the last quarter. Finally, Ausdal Financial Partners Inc. acquired a new position in Ready Capital in the fourth quarter worth approximately $68,000. Institutional investors own 55.87% of the company’s stock.

About Ready Capital

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.